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Powerball Annuity Jackpot Analysis for Montana (Jul. 29, 2020 Drawing)

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $126,000,000 would be for a resident of Montana, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Montana

Drawing Date:  Jul. 29, 2020
Jackpot:$126,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,896,481$455,155$130,857$1,310,468
2$1,991,305$477,913$137,400$1,375,992
3$2,090,870$501,809$144,270$1,444,791
4$2,195,414$526,899$151,484$1,517,031
5$2,305,184$553,244$159,058$1,592,882
6$2,420,443$580,906$167,011$1,672,526
7$2,541,466$609,952$175,361$1,756,153
8$2,668,539$640,449$184,129$1,843,960
9$2,801,966$672,472$193,336$1,936,158
10$2,942,064$706,095$203,002$2,032,966
11$3,089,167$741,400$213,153$2,134,615
12$3,243,626$778,470$223,810$2,241,345
13$3,405,807$817,394$235,001$2,353,413
14$3,576,097$858,263$246,751$2,471,083
15$3,754,902$901,177$259,088$2,594,637
16$3,942,647$946,235$272,043$2,724,369
17$4,139,780$993,547$285,645$2,860,588
18$4,346,769$1,043,225$299,927$3,003,617
19$4,564,107$1,095,386$314,923$3,153,798
20$4,792,313$1,150,155$330,670$3,311,488
21$5,031,928$1,207,663$347,203$3,477,062
22$5,283,525$1,268,046$364,563$3,650,916
23$5,547,701$1,331,448$382,791$3,833,461
24$5,825,086$1,398,021$401,931$4,025,134
25$6,116,340$1,467,922$422,027$4,226,391
26$6,422,157$1,541,318$443,129$4,437,711
27$6,743,265$1,618,384$465,285$4,659,596
28$7,080,428$1,699,303$488,550$4,892,576
29$7,434,450$1,784,268$512,977$5,137,205
30$7,806,172$1,873,481$538,626$5,394,065
Total$126,000,000$30,240,000$8,694,000$87,066,000
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